Aarti Pharmalabs Limited has disclosed receiving an order from the Office of the Superintendent of Stamps, Gandhinagar, levying a total of ₹59.50 crore towards stamp duty and penalty. This order relates to the Scheme of Arrangement (Demerger) sanctioned by the NCLT. The company intends to challenge this order, believing it has strong factual and legal grounds.
Substantial Stamp Duty and Penalty Assessed
Aarti Pharmalabs Limited has announced a significant development concerning an order received from the Office of the Superintendent of Stamps, Gandhinagar, Gujarat. The order, dated August 29, 2026, pertains to the adjudication of stamp duty and penalty related to the Scheme of Arrangement (Demerger) between Aarti Industries Limited and Aarti Pharmalabs Limited. This scheme was previously sanctioned by the Hon’ble National Company Law Tribunal (NCLT), Ahmedabad Bench, via its order dated September 21, 2022.
Details of the Order
The authority has levied a stamp duty of ₹25 crore under Article 20(D) of Schedule-I of the Gujarat Stamp Act, 1958. Additionally, a penalty equal to the deficient duty of ₹25 crore has been imposed as per Rule 9 of the Mumbai Stamp (Market Value Determination) Rules, 1984. A further penalty of ₹9.50 crore has been levied under the provisions of the Gujarat Stamp Act, 1958. The total amount assessed aggregates to ₹59,50,00,000/- (Rupees Fifty-Nine Crore Fifty Lakh only).
Company’s Stance and Action Plan
The company received the direction or order on September 01, 2026, and is awaiting the physical copy. Aarti Pharmalabs alleges short payment/non-payment of stamp duty on the NCLT-approved Scheme of Arrangement. However, the Company is currently evaluating the order and is confident in its position. It believes it possesses adequate factual and legal grounds to contest the order and intends to take appropriate actions to challenge it.
Financial Impact
The total quantifiable impact on the financial activities of the listed entity, as per the order, stands at ₹59,50,00,000/- (Rupees Fifty-Nine Crore Fifty Lakh only).
Source: BSE
